TEHRAN (IRNA) -- Chief Executive Officer of CASCA Consulting, Limited Liability Corporation (LLC), Franz Erhardt, said on Monday that Iran has a high potential for oil refining.

He made the statement while speaking to IRNA at the first international conference on Iran's oil refining industry.

Turning to the crude oil reserves of the Caspian Sea area, he said that Iran is in a position to become the Middle East oil refining center.

He pointed to another remarkable capacity of the country in the Persian Gulf area and said that Iran can also export its oil products from the northern part of the Persian Gulf.

Erhardt underlined that Iran has many opportunities, adding that it can also use the potentials and experiences of other countries to build up its capacities. He referred to Iran's crude oil reserves, which can be used in the refining industry, and said, "There is a considerable number of oil products consuming centers in Europe and the U.S.

"Europe is now facing a shortage of diesel fuel and the U.S. is facing a shortage of petrol," he added. He urged that Iran should raise its capacity for refining of crude oil and produce oil products more than its domestic needs to compensate for the current shortages in the world, including Europe and the U.S.

Erhardt said that Iran can import crude oil from its northern neighboring countries to refine more crude oil and increase its capacities in the sector.